revenue, but that doesn't mean they support raising tax rates for the wealthy. they support instead, scott, limiting tax deductions for the rich. >> pelley: nancy, thank you. let's run to the other end of pennsylvania avenue where we find chief white house correspondent major garrett. major, what's going on there? >> reporter: scott, the president has asked tim geithner to lead up his fiscal cliff negotiations with congressional republicans. that's a nod to republicans because they prefer geithner over the president's chief of staff jack lew who republicans believe is stridently opposed to big changes to health care entitlements like medicare and medicaid. white house officials insist though geithner will be in the lead, jack lew won't be far from the fiscal cliff talks. >> pelley: major, what is the white house willing to put on the negotiating table? >> scott, just about everything except social security. the president argues that social security is not driving the deficit problem. it has solvency issues of its own but the president wants those dealt with down